Tariffs, Equity, and Looking Ahead to Spring
The real estate market never sleeps, even in the depths of winter! As we bundle up against the snow and dream of spring gardens, I wanted to address some of your most pressing questions – especially about those tariff discussions making headlines. Let's dive into what this could mean for homeowners and buyers in our area, along with a peek at what's happening in our local market.
A lot has happened since we last touched base. I hope you are well, and surviving this snowy winter (I am starting to dream of spring).
I have been fielding a lot of questions in regards to what the tariff chatter would do to housing if implemented… so I want to start there.
First off, if you already own your home, it won’t hurt the equity you have. In fact, the average home equity value nation wide is $311,000 (as of January of 2025). This is nationally, so imagine what yours might be in the North East.
The tariffs being discussed that could impact housing: Canada, China, and Mexico. Think trees for framing, steel, and gypsum (the primary component in concrete). If you are wanting a new construction home, or planning big projects for the home you have, it might be a good idea to jump on in. I do expect to see prices go up if implemented, so why wait?
Our inventory is still very low, but I expect an active spring market! There seem to be a lot of people ready to move from their starter homes, which is a good sign for inventory. It is still a sellers market though, so if you are on the fence- now is the time.
It is the week of love, and I really truly adore each of you. You make our communities great.
Put yourself out there
I say it to every client before we talk price, photos, or prep work: fall in love with the location, because that's the one thing no renovation budget can fix.The kitchen can be updated. The layout can be reimagined.
Let's be honest. When you hear "sustainable living," your brain probably goes straight to expensive overhauls, complicated routines, and Pinterest boards you will never actually execute. You are running a household, managing kids, and trying to keep it all together. The last thing you need is another project.